Tokyu Corporation

Retail & mixed-use property · 9005

The Japan read

From the company's own filing for Q1 (Apr–Jun 2026) · reported 2026-08-07 · the filing

JapanTokyu Store revenue rose 0.6% to ¥53.4bn (all stores +1.6%, existing −0.2%) as soaring prices cut items per basket; Tokyu Department Store revenue slipped 1.0% to ¥13.7bn, with existing-store gross sales up 1.5%.
InboundTokyu says Shibuya's shops and hotels kept capturing inbound demand; its Shibuya-area hotels plus The Capitol Hotel Tokyu ran at 78.7% occupancy (down 1.5 points) but raised average rates ¥3,027 to ¥59,350.
Not disclosedTax-free sales at Shibuya Scramble Square, ShinQs, SHIBUYA109 and Tokyu Food Show appear only as a monthly chart that Tokyu says differs from reported sales; no quarterly total or growth rate is given.

Other callouts in the filing

BasisMost of life-service's profit drop came from Tokyu Power Supply's higher power-buying costs (−¥0.9bn) rather than shops, whose profit fell ¥0.6bn; Shibuya Scramble Square and Hikarie are reported under real estate.
One-offThe net-profit rise came from tax, not trading: income taxes swung to a ¥2.8bn credit from a ¥9.3bn charge, mainly via deferred-tax adjustments, while operating profit excluding property sales fell 17.0%.
OutlookThe 12 May plan is unchanged, though first-quarter operating profit came in 9.5% below Tokyu's own quarterly plan on power-procurement and leasing costs; the plan has retail revenue rising ¥19.4bn to ¥356.2bn.

floortok's reading of the filing, in our own words. Figures are the company's own; where a growth rate is our arithmetic, it says so.

Show figures in

Q1 (Apr–Jun 2026) · Year-to-Date

Reported 2026-08-07

Operating revenue¥273.5bn+4.6%

Operating profit¥31.4bn−2.8%

Net income¥36.3bn+43.4%

Tokyu's life-service segment — Tokyu Department Store, the Tokyu Store chain and its ICT and power businesses — grew revenue 2.4% to ¥130.1bn in April–June 2026 but saw segment profit fall 33.9% to ¥3.4bn, easily the weakest line in the group, mostly on higher power-buying costs at Tokyu Power Supply. Real estate, which holds the Shibuya commercial estate, went the other way, revenue up 15.5% and profit up 13.2% to ¥15.2bn. Group operating revenue rose 4.6% to ¥273.5bn, operating profit fell 2.8% to ¥31.4bn, and net income rose 43.4% to ¥36.3bn. Full-year guidance is unchanged at ¥1,140.0bn revenue (+5.0%).